Wells Trecaso Financial Group LLC Has $5.63 Million Stock Position in Commercial Metals (NYSE:CMC)

Wells Trecaso Financial Group LLC lowered its stake in Commercial Metals (NYSE:CMC) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 113,440 shares of the basic materials company’s stock after selling 2,330 shares during the quarter. Commercial Metals comprises approximately 1.8% of Wells Trecaso Financial Group LLC’s investment portfolio, making the stock its 21st biggest holding. Wells Trecaso Financial Group LLC’s holdings in Commercial Metals were worth $5,627,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. nVerses Capital LLC bought a new stake in Commercial Metals in the 3rd quarter valued at $66,000. GAMMA Investing LLC raised its stake in shares of Commercial Metals by 56.6% in the 4th quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock valued at $130,000 after purchasing an additional 944 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Commercial Metals by 10.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,784 shares of the basic materials company’s stock valued at $138,000 after purchasing an additional 254 shares in the last quarter. KBC Group NV boosted its position in shares of Commercial Metals by 15.9% during the third quarter. KBC Group NV now owns 3,099 shares of the basic materials company’s stock worth $170,000 after buying an additional 425 shares during the period. Finally, Highland Capital Management LLC bought a new position in shares of Commercial Metals during the third quarter worth about $206,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

CMC has been the topic of several research reports. BMO Capital Markets cut their target price on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a research note on Friday, January 3rd. Morgan Stanley began coverage on shares of Commercial Metals in a research report on Thursday, December 19th. They issued an “equal weight” rating and a $65.00 price objective on the stock. BNP Paribas downgraded shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. The Goldman Sachs Group started coverage on shares of Commercial Metals in a research report on Monday, December 2nd. They set a “buy” rating and a $75.00 price target on the stock. Finally, Jefferies Financial Group reduced their price objective on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Commercial Metals currently has an average rating of “Hold” and an average price target of $63.83.

Commercial Metals Stock Performance

Shares of CMC opened at $50.25 on Friday. The company has a market cap of $5.71 billion, a PE ratio of 45.27, a price-to-earnings-growth ratio of 2.51 and a beta of 1.19. The firm has a 50-day moving average of $54.74 and a 200-day moving average of $54.63. Commercial Metals has a one year low of $45.50 and a one year high of $64.53. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Monday, January 6th. The basic materials company reported $0.78 EPS for the quarter, hitting analysts’ consensus estimates of $0.78. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. Commercial Metals’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter last year, the company posted $1.49 earnings per share. As a group, equities analysts forecast that Commercial Metals will post 3.28 earnings per share for the current year.

Commercial Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Thursday, January 16th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Thursday, January 16th. Commercial Metals’s dividend payout ratio (DPR) is presently 64.86%.

About Commercial Metals

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.